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0:00:02 > 0:00:07- Over the past few years, banks have - disappeared from the high street.
0:00:08 > 0:00:11- Our research shows the true cost - of the reduction.
0:00:11 > 0:00:15- Almost half the branches - of the main banks...
0:00:15 > 0:00:17- ..have closed in the past decade.
0:00:17 > 0:00:19- I'm not sure what the future holds.
0:00:20 > 0:00:22- The town will die on its feet - if we don't watch out.
0:00:23 > 0:00:28- HSBC and Nat West have closed - two-thirds of their Welsh branches.
0:00:28 > 0:00:30- More are about to close.
0:00:30 > 0:00:35- We had a letter stating the - nearest bank will be 30 miles away.
0:00:35 > 0:00:40- 30 miles. That's a long way to go - for a bank interview.
0:00:40 > 0:00:46- In London, banks claim the demand - for traditional branches has fallen.
0:00:47 > 0:00:49- If you look at the figures...
0:00:49 > 0:00:54- ..less people are using the branches - than they did 15 years ago.
0:00:55 > 0:00:58- Dozens more branches - are about to close.
0:00:59 > 0:01:03- Tonight we ask if it's the end of - the road for the high street branch.
0:01:10 > 0:01:12- I start my journey in Tregaron.
0:01:13 > 0:01:16- The town has a long history - in financial circles.
0:01:17 > 0:01:20- Its high street - was once home to Nat West...
0:01:20 > 0:01:23- ..Lloyds...
0:01:24 > 0:01:26- ..Barclays...
0:01:26 > 0:01:30- ..and in the 19th century, - the bank of the local drovers...
0:01:30 > 0:01:32- ..Banc y Ddafad Ddu.
0:01:39 > 0:01:43- Two centuries have passed - since the days of Banc y Ddafad Ddu.
0:01:43 > 0:01:48- Since then, the town has been home - to some of Britain's big banks.
0:01:48 > 0:01:50- Barclays, Lloyds and Nat West.
0:01:51 > 0:01:56- Since last year, all three banks - have closed their doors.
0:01:59 > 0:02:03- I'm here today to meet - the lunch club...
0:02:03 > 0:02:07- ..who've braved the cold weather - to reach the Talbot.
0:02:07 > 0:02:11- They've met here monthly - for the past 16 years.
0:02:11 > 0:02:15- They've witnessed major changes here - since then.
0:02:16 > 0:02:19- What effect has closing the banks - had on Tregaron?
0:02:19 > 0:02:22- It's had a negative effect - on the community. Oh, yes, it has.
0:02:23 > 0:02:26- People don't travel - to Tregaron anymore.
0:02:26 > 0:02:31- When they visited the bank, - they visited the shops too.
0:02:31 > 0:02:34- They don't come anymore.
0:02:35 > 0:02:40- Banks claim that more and more - of their customers now bank online.
0:02:40 > 0:02:44- That doesn't please everyone.
0:02:44 > 0:02:49- I know that people can do these - things online but not everyone can.
0:02:49 > 0:02:52- You can't do everything online.
0:02:52 > 0:02:54- We like to deal with a human being.
0:02:54 > 0:02:58- It makes a difference. Speaking - to a machine isn't the same.
0:03:00 > 0:03:05- With the town's three banks having - closed over the past two years...
0:03:05 > 0:03:11- ..their nearest banks are now - in Aberystwyth and Lampeter.
0:03:11 > 0:03:14- It's becoming very inconvenient - for us.
0:03:14 > 0:03:18- We have to visit Lampeter. - It's been a huge loss to us.
0:03:18 > 0:03:21- I have to rely - on my daughter to drive me.
0:03:21 > 0:03:22- I don't drive as I used to.
0:03:23 > 0:03:29- In June, Lampeter will lose another - branch as Nat West leaves the town.
0:03:32 > 0:03:36- As part of a plan - to close 20 branches in Wales...
0:03:36 > 0:03:39- ..Nat West in Cardigan - will close in May.
0:03:39 > 0:03:44- Tonight, local residents have - gathered to voice their concerns.
0:03:45 > 0:03:48- Nat West had 130 branches in Wales - ten years ago.
0:03:48 > 0:03:50- Only 52 remain now.
0:03:52 > 0:03:56- It's disastrous news for people - living in rural communities.
0:03:56 > 0:04:00- Ceredigion will now only have - one Nat West, in Aberystwyth.
0:04:00 > 0:04:02- It's a real headache for us.
0:04:02 > 0:04:06- Travelling from Cardigan - to Aberystwyth can take an hour.
0:04:06 > 0:04:11- That's very inconvenient - if you run a self-employed business.
0:04:11 > 0:04:16- You don't have time to close - the shop and travel to Aberystwyth.
0:04:16 > 0:04:18- You'll lose money.
0:04:19 > 0:04:24- Local MP, Ben Lake, has raised - the matter in Westminster.
0:04:24 > 0:04:29- He wants the UK Government to do - more to retain high street banks.
0:04:31 > 0:04:34- Their official view is - that this is a commercial decision.
0:04:34 > 0:04:37- They're a private company - and they won't interfere.
0:04:39 > 0:04:43- Nat West are owned by RBS - which was rescued in 2008...
0:04:43 > 0:04:47- ..thanks to 45bn of public money.
0:04:48 > 0:04:52- Taxpayers rescued the banks - a decade ago.
0:04:52 > 0:04:59- They still hold, I think, - about 70% of Nat West's shares.
0:04:59 > 0:05:02- Local farmer Dilwyn Jenkins - is angry...
0:05:02 > 0:05:06- ..that Nat West - is planning to leave Cardigan.
0:05:07 > 0:05:10- It's important - to have someone you know...
0:05:10 > 0:05:13- ..and can communicate with locally.
0:05:18 > 0:05:21- In Gwbert, not far from Cardigan...
0:05:21 > 0:05:25- ..Dilwyn Jenkins has been - farming Gwelfor for 60 years.
0:05:27 > 0:05:31- He lives there with his wife - and farms beef cattle.
0:05:31 > 0:05:35- They've always banked with Nat West - at the Cardigan branch.
0:05:35 > 0:05:40- Late last year, they heard - that changes were planned.
0:05:40 > 0:05:44- We received a letter from them - at the end of the year.
0:05:45 > 0:05:47- I think it was the beginning - of December.
0:05:48 > 0:05:51- They said the branch - was closing down.
0:05:51 > 0:05:54- For them it wasn't a problem.
0:05:54 > 0:06:00- They stated our nearest bank - would only be 30 miles away.
0:06:00 > 0:06:04- 30 miles is a long way to go - for a bank interview...
0:06:05 > 0:06:07- ..to see the manager - or ask for help.
0:06:07 > 0:06:12- According to Nat West, financial - transactions in Cardigan...
0:06:12 > 0:06:15- ..have decreased by 14% since 2012.
0:06:15 > 0:06:19- Only 58 customers visit the branch, - on average, every week.
0:06:20 > 0:06:23- Nat West claim that other options - will be made available...
0:06:23 > 0:06:27- ..including the use - of the town's post office.
0:06:27 > 0:06:29- That hasn't calmed Dilwyn's fears.
0:06:30 > 0:06:35- Have the post office staff - been trained to do this work?
0:06:36 > 0:06:43- I'm not sure about working - with a third party on this.
0:06:43 > 0:06:48- It means someone else will be aware - of our financial details.
0:06:49 > 0:06:53- When Nat West closes its doors, - Barclays, Lloyds and HSBC...
0:06:54 > 0:06:56- ..will remain in Cardigan.
0:06:56 > 0:07:01- Dilwyn is worried that they - will eventually close their doors.
0:07:02 > 0:07:07- He feels that banks should consider - their duties to customers like him.
0:07:09 > 0:07:12- If they expect us - to be their customers...
0:07:12 > 0:07:16- ..they should keep - local branches open...
0:07:17 > 0:07:22- ..to allow us to go in - and receive friendly advice...
0:07:22 > 0:07:28- ..and to discuss financial matters - with people who know us.
0:07:29 > 0:07:34- I'm heading north - to hear similar concerns.
0:07:36 > 0:07:39- Here, in the market town - of Llanrwst...
0:07:39 > 0:07:44- ..British and international banks - have opened branches over the years.
0:07:44 > 0:07:47- Today, only one - part-time bank remains.
0:07:48 > 0:07:53- Santander was located here - for a time.
0:07:55 > 0:07:59- On the right - is the old Nat West bank.
0:07:59 > 0:08:01- When did this one close?
0:08:02 > 0:08:05- Seven, eight years ago.
0:08:07 > 0:08:12- Rosslyn Morgan is the clerk - of Llanrwst Town Council.
0:08:12 > 0:08:17- He shows me the situation along - the town's high street, the A470.
0:08:18 > 0:08:23- HSBC were here until last June.
0:08:24 > 0:08:29- HSBC were the last - full-time bank in town.
0:08:30 > 0:08:36- The nearest HSBC branches - are in Llandudno and Colwyn Bay.
0:08:37 > 0:08:40- Public transport isn't the best.
0:08:40 > 0:08:45- Even by car, you're talking about - a journey of two hours or more...
0:08:45 > 0:08:49- ..to get there, - do your business and travel back.
0:08:51 > 0:08:55- At the end of 2017, there was more - bad news for the people of Llanrwst.
0:08:56 > 0:09:00- The town's last bank, Barclays, - is open for three days a week.
0:09:01 > 0:09:05- It will close its doors for the - final time at the end of the month.
0:09:05 > 0:09:11- According to Barclays, more and more - people bank online and on the phone.
0:09:11 > 0:09:14- They've seen a drop of 12% - in customer use of the bank...
0:09:14 > 0:09:16- ..over the past two years.
0:09:16 > 0:09:18- Rosslyn isn't convinced.
0:09:20 > 0:09:24- Barclays, and to be honest - every other bank...
0:09:24 > 0:09:29- ..use the same mantra - with us and everyone else.
0:09:29 > 0:09:37- They state that a customer-led - revolution has caused the changes.
0:09:39 > 0:09:42- If you speak to people - on the streets...
0:09:42 > 0:09:47- ..the people of Llanrwst and many - other places, the message is clear.
0:09:47 > 0:09:50- This isn't - a customer-led revolution.
0:09:52 > 0:09:58- It isn't a voluntary choice, - it's being forced upon us.
0:09:59 > 0:10:03- According to Barclays, - they have branches...
0:10:03 > 0:10:08- ..in Llandudno and Colwyn Bay for - customers wishing to visit a branch.
0:10:08 > 0:10:12- That's no comfort for Dwynwen Berry.
0:10:12 > 0:10:16- She's a businesswoman - who runs a Welsh shop in Llanrwst.
0:10:16 > 0:10:19- The town will die on its feet - if we don't watch out.
0:10:19 > 0:10:22- When people are banking - on the coastline...
0:10:22 > 0:10:25- ..that's where - they do their shopping.
0:10:25 > 0:10:28- The streets of Llanrwst - are a lot quieter.
0:10:28 > 0:10:33- She says that closing the - other banks has affected the town.
0:10:36 > 0:10:39- Cafes have closed, - shops have closed.
0:10:39 > 0:10:44- The fact that banks are closing - isn't helping the situation.
0:10:44 > 0:10:49- It's another move that acts - against a successful Llanrwst.
0:10:50 > 0:10:54- Being without a bank is nonsense.
0:10:54 > 0:10:59- You're a businesswoman. You must - understand that businesses change.
0:10:59 > 0:11:02- Of course, yes, - and I do bank online.
0:11:02 > 0:11:04- I pay bills online...
0:11:04 > 0:11:10- ..but I can't bank cash online.
0:11:10 > 0:11:18- You can't stuff your five-pound - notes and coins into a computer.
0:11:18 > 0:11:21- They say you can send it by post.
0:11:22 > 0:11:26- That means cheques - will take longer to clear by post.
0:11:26 > 0:11:28- It's just another problem.
0:11:29 > 0:11:33- The message is the same - from other businesses.
0:11:34 > 0:11:39- Deiniol ap Dafydd has run the Blas - ar Fwyd cafe and shop for 30 years.
0:11:39 > 0:11:44- Having a local bank was crucial when - he first established the business.
0:11:45 > 0:11:51- When I started, I was in contact - with a local bank manager.
0:11:51 > 0:11:57- He could decide, from knowing us, - if we were suitable for a loan.
0:11:58 > 0:12:04- By now, that right - left this valley decades ago.
0:12:04 > 0:12:09- The branches are now disappearing - from town too.
0:12:10 > 0:12:14- It's taken a layer of responsibility - out of society.
0:12:14 > 0:12:18- He says that losing banks - means losing time.
0:12:18 > 0:12:21- He has to travel to Colwyn Bay - and Porthmadog these days.
0:12:22 > 0:12:25- We have to bank cheques, - we have to bank cash.
0:12:26 > 0:12:28- We need change.
0:12:28 > 0:12:31- It's impossible - to do that in Llanrwst now.
0:12:32 > 0:12:36- According to Deiniol, it's time - for banks to think creatively...
0:12:36 > 0:12:39- ..if they want to strike - a better balance...
0:12:40 > 0:12:42- ..between their own interests - and those of their customers.
0:12:43 > 0:12:47- Could there be a branch, - like the last one in town...
0:12:47 > 0:12:51- ..that's used - by many different banks?
0:12:51 > 0:12:56- Office blocks have shared buildings - between businesses for years.
0:12:56 > 0:13:03- Why can't a bank counter be HSBC on - a Monday and Barclays on a Tuesday?
0:13:04 > 0:13:08- Why are branches closing - across Wales?
0:13:08 > 0:13:13- Later, I visit one of the world's - global banking centres, London...
0:13:13 > 0:13:14- ..in my search of answers.
0:13:15 > 0:13:16- .
0:13:18 > 0:13:18- Subtitles
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0:13:25 > 0:13:27- Canary Wharf, London.
0:13:27 > 0:13:33- Here, at the headquarters - of some of our high street banks...
0:13:33 > 0:13:38- ..the global banking crisis - rocked the world.
0:13:39 > 0:13:43- Back then, the British Government - stepped in to save the sector.
0:13:43 > 0:13:46- 500bn of public money was used.
0:13:46 > 0:13:50- Since then, - the city of London has settled down.
0:13:50 > 0:13:54- Away from the city, - great changes have happened.
0:13:54 > 0:14:00- During the past 10 years, HSBC has - closed 65% of its Welsh branches.
0:14:00 > 0:14:03- Nat West has closed 63%.
0:14:04 > 0:14:08- Between the main banks, HSBC, - Nat West, Barclays and Lloyds...
0:14:09 > 0:14:13- ..518 branches were open in Wales - in 2008.
0:14:14 > 0:14:19- By today, 246 of those have closed.
0:14:20 > 0:14:24- We asked the banks' chief executives - for interviews...
0:14:24 > 0:14:26- ..but none agreed.
0:14:26 > 0:14:29- I'm in London today - to meet John Derrick.
0:14:30 > 0:14:31- His roots are in Llanelli.
0:14:32 > 0:14:36- He's managing director of private - international bank JP Morgan.
0:14:37 > 0:14:40- He's also worked - for one of the high street banks.
0:14:41 > 0:14:44- He feels that the sector is - more answerable and responsible...
0:14:44 > 0:14:47- ..than it was - before the 2008 crisis...
0:14:48 > 0:14:51- ..but profits are still the target.
0:14:52 > 0:14:53- Money talks for the banks.
0:14:53 > 0:14:56- They worry little - about the effect on communities.
0:14:57 > 0:15:00- For any private company...
0:15:00 > 0:15:04- ..what matters is pleasing - customers and shareholders.
0:15:04 > 0:15:08- Without customers, - there are no shareholders.
0:15:08 > 0:15:09- It's that simple.
0:15:10 > 0:15:14- You can't just satisfy shareholders, - that won't generate business.
0:15:14 > 0:15:21- We've heard concerns across Wales - that towns are dying on their feet.
0:15:21 > 0:15:23- He doesn't accept that.
0:15:23 > 0:15:31- Communities are created and founded - on local economies.
0:15:31 > 0:15:36- The banks accept the investment, - the money that's made by people.
0:15:37 > 0:15:40- The bank doesn't create - the local economy.
0:15:40 > 0:15:45- You have to question the purpose - of the bank in that locality.
0:15:45 > 0:15:50- The purpose of the bank - is to fund new companies...
0:15:50 > 0:15:56- ..and work with the community to - be there to create new businesses.
0:15:56 > 0:16:00- But the bank, per se, - can't create the economy.
0:16:00 > 0:16:03- It's wrong to think of a bank - in that way.
0:16:04 > 0:16:09- According to John Derrick, the banks - face challenges in the future...
0:16:09 > 0:16:12- ..because of competition - from online banks.
0:16:12 > 0:16:15- Customers have more power - these days...
0:16:16 > 0:16:19- ..because they're not tied - to local branches.
0:16:20 > 0:16:24- Customers can choose which bank - they prefer to work with.
0:16:24 > 0:16:28- People don't find themselves - in a position they've been...
0:16:29 > 0:16:33- ..all their lives just because - their parents banked with that bank.
0:16:33 > 0:16:37- That doesn't make any sense to me. - I don't do that.
0:16:38 > 0:16:41- As the British banking - landscape changes...
0:16:41 > 0:16:46- ..back in Wales, there's still - a demand for high street branches.
0:16:46 > 0:16:50- Banks are trying to strike a balance - between old and new.
0:16:50 > 0:16:53- In Prestatyn - on the North Wales coast...
0:16:53 > 0:16:58- ..with a population of 18,000, - Nat West closed its doors last June.
0:17:00 > 0:17:05- Today, the Nat West van, Heulwen, - visits the town's car park.
0:17:06 > 0:17:10- Why have you brought the mobile bank - to Prestatyn today?
0:17:10 > 0:17:14- Last year we closed the branch - in Prestatyn.
0:17:14 > 0:17:20- Because of that, we bring the - mobile bank here to help customers.
0:17:20 > 0:17:24- The way people bank with us - has changed.
0:17:24 > 0:17:27- A lot of people choose - to do their banking digitally.
0:17:27 > 0:17:31- We understand that not everyone - is comfortable with that.
0:17:31 > 0:17:34- Rachel Williams is - a community banker with Nat West.
0:17:34 > 0:17:39- She travels to areas where branches - have closed to help the customers.
0:17:40 > 0:17:45- From my experience, people - like seeing us here every week.
0:17:45 > 0:17:48- People like using the van...
0:17:48 > 0:17:52- ..or speaking to me - as a community banker.
0:17:53 > 0:17:59- It gives them a face to the name.
0:18:00 > 0:18:05- The van visits Prestatyn weekly - and stays for 90 minutes.
0:18:05 > 0:18:08- Not everyone is happy.
0:18:08 > 0:18:11- It's very sad, for the town - and for everyone.
0:18:12 > 0:18:17- Prestatyn is busier now - with the new development.
0:18:17 > 0:18:20- There are plenty of shops - on the streets.
0:18:20 > 0:18:22- I know that people aren't happy.
0:18:23 > 0:18:28- When the news broke about the - closure of Prestatyn's Nat West...
0:18:28 > 0:18:32- ..local people started a petition - to try and reverse the decision.
0:18:33 > 0:18:36- Do you understand - why some people aren't happy?
0:18:36 > 0:18:41- We've spoken to people who'd prefer - to see a bank on the high street.
0:18:43 > 0:18:47- The way people have banked with us - has changed over the years.
0:18:47 > 0:18:52- We understand that not everyone - is comfortable banking online.
0:18:54 > 0:19:00- We've put all these things together - to try and help our customers.
0:19:03 > 0:19:08- In Bala, the departure of another - bank has created concern here too.
0:19:09 > 0:19:11- Barclays will shut on March 23...
0:19:11 > 0:19:16- ..because less people use the - branch according to their figures.
0:19:17 > 0:19:20- There's been a reduction - of 14% over the past two years.
0:19:20 > 0:19:24- An event has been organised - to help customers bank online.
0:19:24 > 0:19:28- One person who's worried - about the bank's decision...
0:19:28 > 0:19:30- ..is the local MP.
0:19:31 > 0:19:36- We all need banks. If you're a - business, if you work, you're paid.
0:19:36 > 0:19:41- If you receive a pension or benefits - through a bank, this all happens.
0:19:41 > 0:19:44- Since I was elected as an MP - in 2015...
0:19:44 > 0:19:49- ..I've watched the final bank - leave the high street in Harlech.
0:19:49 > 0:19:51- The same in Blaenau Ffestiniog.
0:19:52 > 0:19:56- We're here in Bala today - seeing Barclays preparing to leave.
0:19:56 > 0:20:01- At the end of January, Plaid Cymru - presented a bill to Westminster.
0:20:02 > 0:20:05- They wanted the British Government - to change the rules...
0:20:06 > 0:20:09- ..to allow more than one bank - to share a building.
0:20:09 > 0:20:11- They wanted investment - in post offices...
0:20:12 > 0:20:17- ..to offer more banking services and - force banks that want to close...
0:20:17 > 0:20:21- ..to consider the time taken - to reach the next closest branch.
0:20:22 > 0:20:28- I'm disappointed with Westminster - for not holdings banks to account...
0:20:28 > 0:20:30- ..better than they have.
0:20:30 > 0:20:34- In the future, we must start - looking to our strengths.
0:20:34 > 0:20:40- We must ensure that we maintain - and strengthen current services.
0:20:42 > 0:20:46- I asked the Treasury for - their response to the concerns...
0:20:46 > 0:20:50- ..that Westminster - wasn't doing enough.
0:20:50 > 0:20:55- The Treasury understands the - effect branch closures have had...
0:20:55 > 0:20:58- ..on communities and employment.
0:20:58 > 0:21:00- They're pressing banks...
0:21:00 > 0:21:03- ..to give as much notice - as they can before closing...
0:21:04 > 0:21:08- ..and to explain the available - options for banking after closure.
0:21:08 > 0:21:13- They do say that bank closures are - a result of commercial decisions.
0:21:13 > 0:21:16- They don't interfere - in such matters.
0:21:18 > 0:21:21- Back in Wales, - where Nat West has closed...
0:21:21 > 0:21:25- ..two-thirds of its branches - in 10 years...
0:21:25 > 0:21:30- ..it says it's offering more - services than ever to customers...
0:21:30 > 0:21:34- ..locally face-to-face - and digitally online.
0:21:34 > 0:21:38- On Gwelfor farm near Cardigan...
0:21:38 > 0:21:42- ..with Dilwyn Jenkins' - local Nat West preparing to close...
0:21:43 > 0:21:46- ..online banking - isn't without its obstacles.
0:21:46 > 0:21:49- "This script may be busy." - It won't let me in.
0:21:50 > 0:21:55- I've tried to log on - to Nat West online a few times.
0:21:55 > 0:22:00- I've checked the speed - of our broadband.
0:22:00 > 0:22:05- It's come up here as 0.29 Mbps.
0:22:06 > 0:22:07- 0.29.
0:22:07 > 0:22:09- Impossible. No chance.
0:22:13 > 0:22:15- After decades of banking - at their local branch...
0:22:16 > 0:22:18- ..on May 30 this year...
0:22:18 > 0:22:22- ..Dilwyn Jenkins and his family, - like many others across Wales...
0:22:22 > 0:22:27- ..will lose the bank that's been - so crucial in their lives.
0:22:27 > 0:22:32- It's a change that will knock - Cardigan and towns across Wales.
0:22:34 > 0:22:38- This message needs to be heard - by Nat West and the other banks.
0:22:38 > 0:22:43- We need them in rural towns - and communities.
0:22:45 > 0:22:50- Back in Llanrwst, as banks claim - that a drop in branch usage...
0:22:51 > 0:22:54- ..triggered their decision - to close branches...
0:22:55 > 0:23:00- ..Deiniol ap Dafydd has a word - of advice for the decision makers.
0:23:00 > 0:23:02- Decreasing the choice...
0:23:02 > 0:23:07- ..and decreasing the service - is the easy option financially.
0:23:08 > 0:23:13- I don't think that's - a long-term business plan...
0:23:13 > 0:23:16- ..that will satisfy society...
0:23:16 > 0:23:19- ..the business community...
0:23:19 > 0:23:22- ..or the country going forward.
0:23:37 > 0:23:39- S4C Subtitles by Adnod Cyf.
0:23:39 > 0:23:40- .